Where dobI file Mediation for release of earnest money?
763I represented Seller in a transaction where the buyer decided not to close on day of closing but will not release the earnest money to the seller. How does the seller go about filing mediation?
1 answer(s)
About 2 years ago
I would start with submitting the termination and release documentation both to the seller and to the title company. In general, the dispute is between the two parties, and according to the contract mediation should be the option to resolve this. So your buyer may need to choose a mediation company and the seller should be properly notified of this. Then as an active realtor, if the above doesn't work, you can call the TAR legal hotline and speak with a real estate attorney for no additional charge. I hope this helps you and your client.
source:
According to Trec: TREC’s earnest money contracts have a paragraph that requires mediation if a contract-related issue arises that can’t be resolved t...
According to Trec: TREC’s earnest money contracts have a paragraph that requires mediation if a contract-related issue arises that can’t be resolved t...
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